[U.S. Treasury Volatility Surges to Nine-Month High, 'Fear Index' Climbs to Highest Level Since June Last Year] BlockBeats News, March 13 – U.S. Treasury volatility surged to a nine-month high as the Iran war heightened inflation concerns and disrupted traders' expectations for the Federal Reserve's policy path. The ICE BofA MOVE Index (often referred to as the bond market's 'Fear Index') climbed to its highest level since June last year, as rising oil prices exacerbated inflation worries, undermining the real returns of U.S. Treasuries and diminishing their safe-haven appeal. Both U.S. President Trump and Iran have displayed provocative stances in the war, adding uncertainty to the duration of the conflict. The 30-year U.S. Treasury yield, which is sensitive to inflation and government spending dynamics, has risen to its highest level in a month, while traders have reduced bets on any Federal Reserve rate cuts in 2026. Jack McIntyre, portfolio manager at Brandywine Global Investment Management, stated: 'As bond investors, we have to start thinking from a stagflation perspective, which always brings significant uncertainty. So, from a volatility standpoint, I need to be compensated.'